DISCOVER OPPORTUNITY.
“It turns out that people have been selling their unneeded life insurance policies, even term policies, for more than 20 years.Who knew?”
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YES, YOU CAN SELL YOUR LIFE INSURANCE. Coventry Direct is changing the way people view life insurance. You can sell all or part of a life insurance policy you no longer need for cash. It’s called a life settlement. Life insurance is a valuable asset, but over time, you may find that your life insurance no longer fits your situation. As circumstances change, your needs may have changed with them. Medical expenses have increased. Premiums are no longer affordable. Children are grown. The good news is you have the choice to sell your unneeded life insurance and realize more value than a surrender or lapse.
“I was relieved I could help cover the rising cost of my cancer treatments and enjoy time with my family.”
8 out of 10
In a recent survey, eight out of ten people were unaware that they had the option to sell their life insurance policy.
Judy was battling bone cancer and her family was struggling financially to keep up with the cost of her treatments. She did a little research and learned about the option of selling her life insurance policy for cash. Judy was able to sell her term life policy and use the cash payment of $203,000 to pay her medical bills, giving her financial stability during a time when she needed it most.
WHEN SELLING MAKES SENSE. If you are exploring your options for meeting current and future financial needs, selling your life insurance policy may make sense for you. Here are a few important reasons why you may want to consider a life settlement: I ncreasing your retirement funds will increase your peace of mind. The proceeds from the sale of your policy can help boost your savings and supplement your retirement income. Y ou need help with increasing medical bills or long term care expenses. Selling your policy may help cover your immediate financial needs. ou have more life insurance than you currently need. Y As your circumstances and need for financial protection change, you may want to reduce the overall insurance you own. our life insurance policy is too expensive to maintain. Y If your premium payments have continued to increase, your policy may no longer be affordable. Y ou still want to keep a portion of your life insurance but would like to eliminate the premiums. You can sell your policy and eliminate costly premium payments, while keeping a portion of your coverage.
“I sold my term policy and received $59,200 for a policy that otherwise had no value.”
James had purchased a term insurance policy for estate planning needs. Due to changes in his estate, he no longer needed the same level of coverage. James was going to let his policy lapse when he learned he was able to sell it for cash, even though it was a term policy with no cash value. He received $59,200 for his policy.
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VALUE You might be surprised to learn that in addition to your home, stocks and valuables, your life insurance is another asset you can sell. With the introduction of life settlements, life insurance policies now have a market value. Policyowners now have the opportunity to transform an unneeded asset into one of significant value.
Giving policyowners the option to sell their life insurance enabled them to receive an amount more than four times greater than what they would have received had they surrendered their policies to their insurance companies. – London Business School Study
POWER TO THE POLICYOWNER For years, policyowners who no longer needed their life insurance policy could only surrender it back to the issuing life insurance company. Now you have another choice. Instead of a lapse or surrender, you can sell your policy. Life settlements are providing policyowners with another alternative and increased flexibility to help them meet their financial goals.
“We are so thankful that we could sell our unneeded policy and supplement our retirement fund.”
William had a $500,000 life insurance policy to provide income protection for his family. Since his children were now grown with their own families, he no longer needed the coverage. He and his wife were very happy with the process of selling their policy, and they ultimately received $110,000. With the proceeds from the sale, they were able to supplement their retirement income and enjoy a planned vacation with extra peace of mind.
WE CAN HELP. Coventry Direct can help you determine if your policy qualifies for a life settlement. If you are interested in selling your life insurance policy, here’s what you will want to know: Q ualify: You can find out if you qualify for a life settlement by completing the Life Settlement Qualifier or you can call 800.521.3200 and one of our policy specialists will assist you. G et Approved: If your policy qualifies for a life settlement, you will receive a quote for your consideration.
85%
More than 85% of all universal life insurance policies never result in a death claim.The policies are surrendered to the insurance company for the cash value or the policy lapses and the policyowner receives nothing at all.
Receive Payment: You will receive cash for the sale of your policy.
ABOUT COVENTRY Coventry created the secondary market for life insurance, coining the term “life settlement” to describe the transaction that enables policyowners to sell their unneeded life insurance policies. For more than 20 years, Coventry has been the life settlement market leader, driving the industry forward and expanding opportunities for policyowners. Since its founding, Coventry has completed more than $40 billion in longevity-linked transactions.
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Call 800.521.3200
EVERYTHING IS DIFFERENT NOW At its core, a life settlement is the sale of an existing life insurance policy for more than the policy’s cash value but less than the death benefit. But life settlements represent much more than an exit strategy for unneeded life insurance policies. With a life settlement, consumers have the option to sell their life insurance and realize significantly more value than they would have received from a lapse or surrender. Life settlements represent an entirely new way of looking at life insurance. Don’t settle for less than you deserve. Settle for More.®
7111 Valley Green Road • Fort Washington, PA • 19034 • 800.521.3200 • coventrydirect.com Coventry Direct is a marketing company. It is not a life settlement provider or broker. Coventry Direct will refer qualified policies to a licensed entity. The details stated in these case examples were reported to Coventry Direct by a third party and are being presented by Coventry Direct without independent verification. © 2021 Coventry Direct LLC. All Rights Reserved.